Ellsworth Advisors LLC Has $4.91 Million Stake in The Kraft Heinz Company (NASDAQ:KHC)

Ellsworth Advisors LLC grew its stake in The Kraft Heinz Company (NASDAQ:KHC) by 4.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 139,934 shares of the company’s stock after purchasing an additional 5,935 shares during the period. Ellsworth Advisors LLC’s holdings in Kraft Heinz were worth $4,913,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Clifford Capital Partners LLC grew its holdings in shares of Kraft Heinz by 21.4% during the second quarter. Clifford Capital Partners LLC now owns 454,884 shares of the company’s stock worth $14,656,000 after purchasing an additional 80,101 shares during the last quarter. Lazard Asset Management LLC boosted its position in Kraft Heinz by 13.2% during the 1st quarter. Lazard Asset Management LLC now owns 2,006,917 shares of the company’s stock worth $74,053,000 after buying an additional 234,783 shares during the period. Smith Thornton Advisors LLC bought a new stake in Kraft Heinz during the 2nd quarter worth approximately $654,000. MBB Public Markets I LLC acquired a new position in Kraft Heinz in the 2nd quarter valued at approximately $2,001,000. Finally, Sei Investments Co. raised its stake in shares of Kraft Heinz by 12.8% during the second quarter. Sei Investments Co. now owns 760,222 shares of the company’s stock valued at $24,495,000 after acquiring an additional 86,311 shares during the last quarter. 78.17% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Evercore ISI decreased their price objective on Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Barclays raised their price objective on Kraft Heinz from $34.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. The Goldman Sachs Group started coverage on Kraft Heinz in a report on Monday, August 12th. They issued a “sell” rating and a $34.00 target price on the stock. Piper Sandler lowered their price target on shares of Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating for the company in a report on Thursday, June 20th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $37.55.

Kraft Heinz Stock Up 0.4 %

Kraft Heinz stock opened at $35.95 on Friday. The company has a market capitalization of $43.65 billion, a PE ratio of 15.70, a PEG ratio of 3.39 and a beta of 0.49. The Kraft Heinz Company has a 12-month low of $31.08 and a 12-month high of $38.96. The firm’s fifty day moving average is $35.18 and its 200 day moving average is $34.99. The company has a quick ratio of 0.53, a current ratio of 1.01 and a debt-to-equity ratio of 0.39.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.05. The firm had revenue of $6.50 billion for the quarter, compared to analyst estimates of $6.55 billion. Kraft Heinz had a net margin of 7.30% and a return on equity of 7.38%. The business’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.79 earnings per share. As a group, sell-side analysts predict that The Kraft Heinz Company will post 3.02 EPS for the current fiscal year.

Kraft Heinz Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were paid a $0.40 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.60 dividend on an annualized basis and a yield of 4.45%. Kraft Heinz’s dividend payout ratio (DPR) is presently 69.87%.

Insider Activity

In related news, insider Cory Onell sold 4,076 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $36.00, for a total value of $146,736.00. Following the transaction, the insider now directly owns 143,970 shares in the company, valued at $5,182,920. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.32% of the company’s stock.

Kraft Heinz Profile

The Kraft Heinz Company, together with its subsidiaries, manufactures and markets food and beverage products in North America and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Ore-Ida, Maxwell House, Kool-Aid, Jell-O, Heinz, ABC, Master, Quero, Kraft, Golden Circle, Wattie's, Pudliszki, and Plasmon brands.